Venmo will now let you buy and sell crypto like Bitcoin
Bitcoin, Ethererum, and more will be available.
With crypto once again in the news cycle (shoutout to Dogecoin), Venmo has announced that it has added functionality that will let people buy and sell four different cryptocurrencies on the platform.
Announced this week and starting today, Venmo users will be able to buy and sell Bitcoin, Ethereum, Bitcoin Cash, and LiteCoin, four of the more-known cryptos out there. The app will also include guides to help newcomers understand the process.
Thankfully, those interested will not need to drop a bunch of cash into their first experience, as Venmo notes people can spend as little as $1 on buying the different coins.
To purchase crypto, Venmo users can use their existing balance or pull money from a connected debit card or bank account.
“Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have,” Darrell Esch, Venmo SVP and GM, noted in a statement.
Venmo is owned by PayPal, which recently added its own functionality to allow people to buy select cryptocurrencies. The new Venmo feature will start rolling out today, but it could be weeks before all users have the ability to purchase Bitcoin, Ethereum, and more.
- Venmo lets you cash a check directly through the app
- PayPal will now let you buy anything with cryptocurrencies like Bitcoin
- A bogus Bitcoin app on the App Store cost an iPhone user over $600,000 in savings
- A new concept for Apple imagines a hardware wallet for cryptocurrencies